Occidental shareholders criticize bid for Anadarko, Buffett financing

Several major Occidental Petroleum Corp shareholders have voiced opposition to the oil company’s $38 billion bid for rival Anadarko Petroleum Corp that now includes a pricey financing deal with billionaire Warren Buffett

Occidental and Chevron Corp are battling for Anadarko and its holdings of nearly a quarter million acres in the Permian Basin, the top U.S. shale field, where low-cost production has helped turn the United States into the world’s top oil producer at 12.3 million barrels per day.

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